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Home My WebLink About0999 If Lender required mortgage insurance as a rondition of making the loan snured by this Srcunty Instrument, Borrower shall pay thr premiums required to maintain the ~nsurance in effect until s~ch t~me ss the requirement for the insurance terminates in accordance with Borrower's and I~ender's written agreement or applicable law. 8, lnspeetion, Lender or its agent may make reasonable entries upon and inspeccions uF the Pro~+erty. Lender shait give Borr~wer notice at the time ofor prior to an inspection specifving reasonable cause for thr ins~tion. 9, Coademnatfon. The procr.eds of any aw~ard or claim for damages, direct or cunsrquential, in conne:tiun with any rondemnation or other tak~ng of any ~art of the Property, or for crn~veyance in liru ef .ondemnation, are here~y assigned and shall be paid to Lender. In the event of a tatal taking of the Property, the pra:eeds shall be appiied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Sorrower. In the event of e partial taking of the Property, unless Bocrower and Lender otherwise agree in writing, the sums secured by this Security Instrument si~all be rec~uced by the amount of the proceeds multiplied by the foliowing fraction: (a) the total amount of the sums secured immediatel~~ before the takin$, divided by (b) the fair market value of the Property immediately t>efore the taking. Any balance shall be paid to Borrower. If the Property is abandoned by Borrower, or if, aFter notice by Lender to Borrower that the condemnor oN'ers te~ make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorizec~ to collect and apply the proceeds, at its option, either to rest~ration or repair of the Pro~erty or to the sums secured by this Security instrument, whether or no: the~ due. ~ Uniess Lender and Borrower otherwise agree in writir~g, any app;icaiion of proceeds to prinripal shall not extend oc ~ postpcne the due date of the monthly payments referred to in pa~agraphs i and 2 or change the amount of such pay~ments. 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Exter.sion of tt?e time t'or payment or j n,odification of amoctization of the sums secured by this Security Instrumer~t granted by Lender to any successor in interest of Bonower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. I,ender shall not be required to commence proceedings against any successor in interest or refuse to extend time for ~ payment or otherwise modify amortization of the sums secured by this Security Instrument by reason ~f any demand made ~ by the original Borcower or Borrower's successors in interest. Any iorbearance by Lender in exercising any right or reme~~~ shall not be a waiver of or preclcde ihe exercise of any right or remedy. i 11. SuccPSSOrs and Assigns Bouadf Joint and Several Liability; Co-signers. The cavenants and agreements of this Security Instrument shall bind and benent the successors and assigns of Lender and Borrower, subject to the ~rovisions I~ of paragraph 1 Borrower's covenants and agreements shalt be joint and several. Any BorroKer wh~ co-signs this Security Instrument but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant a~d convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that I,~nder and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. ' 12. Loan Charges, If ihe loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to Se coilected in connection with the loan eaceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Bonower. Lender may choose to make this reiund b~~ reducirg the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayrrzent charge under the Note. 13. Legislation Affecting Lender's Rigl~ts. If enactment or ~xpiration of appiicable laws has the effec~ of renderireg any provision of the Note or this Security Instrument unenforceable according to its terms, Lender, at its optior, may require immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph t 9. If Lender exercises this option, Lender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower provided for in this Security Instrumznt shall be given by deliverin~ it or by mailing it by fi~t class mail unless applicable law requires use of another n?ethod. The notice shali be directed to the Property Address or any other address Borrower designates by notice to Lender. Any natice to Lender shall be given by~ first class mail to Lender's address stated herein or any oiher address Lender designaies by n~tice to Borrower. Any notice provided for in this Security Instrument shall be deemed to hare been given to Borrower r,r Lender when giver. as provided in this paragraph. 15. Governing Law; Severaoility. This Security Instrument shall be ~overned by federal law~ and the Iaw of the jurisdiction in which the Property is located. In the event that any p~ovision or clause of this Security Instrument or tt~e Note confliets with applicabte ta~v, such c~nflict sha11 noi affect other provisions of this Security lnsirumer.t or the tiote which can be given effect without the confiicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Boerower's Copy. Borrower shall be given one conforR~ed copy of the Ivote and of this Security Instrument. 17. Transfer of the Property or a Beneficia7 Interest in Borrower. tf a!t or any part of the Property or any interest in it is sotd or transCerred (or ita bene6cial interest in Borrower is sold or transferred and Borrower is not a natural person) wiihout Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sumti se~ured by this Security Instrument. However, this o~tion shall not be exercised by Lender if exercise is prohibited by federal taw as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acce(eration. The notice shait provide a peri,rd of not less than 30 days from the date the notice is delivered or maited within which Borrower must pay al! sums secured by this Security Instrument. If Borrower fails to pay ihese sums prior to the expiration of this period, Lender may invoke any~ remedies permitted by this Secuaty Instrument without further notice or demand on $ortower. 18. Borrower's Right to Reiastate. If Borrower meets certa6n cor.ditions, Borrower shal! have the right to ha~e enforcement of this Security Instrument discontinued at any time prior to the earlier :~f: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power oi'sale contained in this Security Instrument; or (b) entry of a juclgment enforcing ihis Secarity Instrument. Those conditions are that Borrower: (a) pays Lender al! sums which then w•ould be due under this Security Instrument and the Note had no acceleration occu;red; (b) cures any default of any other covenants or agreements; (c) pays all expenses ineurred in enforcing this Security Instrument, including, but not limited to, reasanable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrume~t, Lender's rights in the Property and Borrower's obligation to pay the sums secured by tt~is Security Instrument sha!! continue unchanged. Upon reiristatement by Borrower, this Security Instrument and the obligations secured h~reby shall remain fully effective as if no acceleration had occuned. However, this right to reinstate shail not apply in the case of acc~leration under paragraphs 13 or 17. ~ 3oox51~ P~c~ 999 ~ • . ' - . - - M•~--.~ ,:y~~ ~ ~ ~ • f -